OSN+ Finalizes Acquisition of Majority Stake in Anghami

OSN+ Finalizes Acquisition of Majority Stake in Anghami

– OSN+ and Anghami Inc. (NASDAQ: ANGH) complete a landmark transaction, acquiring 55.45% of Anghami.

The resulting entity boasts over 120 million registered users, 2.5 million paid subscribers, and nearly $100 million in revenue.

– Merger combines OSN+’s premium video content with Anghami’s extensive music and podcast catalog, enhancing the streaming experience with AI-driven personalization.

OSN+ and Anghami have successfully concluded their landmark transaction, marking a significant milestone following thorough regulatory scrutiny. 

With OSN Group securing a commanding 55.45% majority stake in Anghami at a valuation of $3.69 per share, reflecting a 1.9x premium over the stock’s Thursday, March 28th closing price, the amalgamated entity anticipates substantial growth prospects.

This strategic alliance positions the combined company to capitalize on a vast user base, with projections exceeding 120 million registered users and approximately 2.5 million paid subscribers. 

Moreover, the merger is poised to generate substantial revenue, nearing the $100 million mark upon finalization.

The merger synergizes OSN+’s extensive library of premium video content, comprising over 18,000 hours of exclusive material, with Anghami’s expansive catalog featuring more than 100 million songs and podcasts. 

Leveraging Anghami’s robust tech stack, the unified platform is primed to deliver enhanced streaming experiences characterized by AI-driven hyper-personalization and the imminent introduction of cutting-edge products.

Under the leadership of Elie Habib, co-founder and CTO of Anghami, who assumes the role of incoming CEO, and with Joe Kawkabani retaining his position as CEO of OSN Group, the combined entity is poised to redefine the landscape of the streaming industry through innovation and synergy.

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